European Factors to Watch-Shares seen lower with all eyes on Greece
(Adds detail, company news) LONDON, June 26 (Reuters) - European stocks were set to open lower on Friday, with investors discouraged by a lack of progress in Greek debt crisis negotiations heading into crunch talks at the weekend. Greece failed again to clinch a deal with its international creditors on Thursday, setting up a last-ditch effort on Saturday to avert a default next week or start preparing to protect the euro zone from financial market turmoil. Futures for the EuroSTOXX 50, FTSE 100, DAX and CAC were all down 0.5-0.8 percent at 0603 GMT. Residual optimism that some sort of deal may be struck helped support European shares on Thursday, which ended mixed even as the pan-European FTSEurofirst 300 index closed down 0.3 percent at 1,573.05 points. However, while a deal on Saturday is possible, traders said that the high amount of uncertainty ahead of the negotiations meant it was likely that there would be sharp swings in the market on Monday, making investors unwilling to leave themselves exposed heading into the weekend. "The collapse of talks again on Thursday at the eurogroup level... means that any deal before the end of play on Friday is extremely unlikely", Craig Erlam, senior market analyst at OANDA, said in a note. "By the time the markets reopen next week, Greece may have either secured a deal or accepted default to the IMF... with all this in mind, I expect to see significant risk aversion this morning with investors preparing for fireworks over the weekend." In a quiet day for corporate reporting, Tesco may provide some support for the market after Britain's biggest supermarket showed a tentative recovery in its key home market, beating forecasts even as sales continued to decline. COMPANY NEWS: TESCO Britain's biggest supermarket Tesco showed a tentative recovery in its key home market was starting to move onto a stronger footing, with the sales decline in its first quarter coming in ahead of forecasts. K+S The company said it was assessing options after Potash Corporation of Saskatchewan Inc proposed to acquire all its shares. A source told Reuters that K+S was likely to reject the offer, which would value the company at slightly more than 40 euros per share. METRO Erich Kellerhals, the minority owner and founder of Media-Saturn Holding GmbH, repeated he wanted to buy back Europe's biggest electronics chain from German retailer Metro AG Frankfurter Allgemeine Zeitung reported. BOUYGUES, ALTICE, NUMERICABLE-SFR, ILIAD European telecoms group Altice outlines the terms of its rejected bid for Bouygues Telecom and says the offer, worth "a minimum of 10 billion euros," remains on the table. ORANGE The takeover bid by French telecoms group Orange of Spain's Jazztel was accepted by 95 percent of shareholders of the Spanish group, business daily Expansion said. SOPRA STERIA, SOCIETE GENERALE Societe Generale sells its 7.04 percent stake in business consultants Sopra Steria for around 111 million euros. SANOFI CEO Olivier Brandicourt has told unions he will present a five-year strategic plan in November after the French drug company's third-quarter results, unions say. TOTAL The French oil major is in talks to sell its gas pipeline in the UK's North Sea to ArcLight Capital partners, a U.S.-based private equity firm focused on energy infrastructure, Bloomberg reported citing people familiar with the matter. CVC/KKR/ENDESA Private equity funds CVC and KKR are studying a bid for a sizeable stake in Endesa, the Spanish subsidiary of Italian energy group Enel, sources with knowledge of the matter said. BP Penn Virginia Corp's shares rose as much as 23 percent on Thursday following a report that BP Plc had offered to buy the U.S. oil and gas producer for $8 per share. VINCI The French company said it bought New Zealand-based HEB Construction, which employs 750 people and generated revenue of about 230 million euros in 2014. POPULAR Spain's Banco Popular is eyeing acquisitions of U.S. and Mexican banks and deals could be announced over the next quarter, business daily Cinco Dias said on Friday. EUROPCAR The European car rental company's fully subscribed initial public offering of 10.7 million shares has been priced at 12.25 euros, Goldman Sachs International said. HORNBACH HOLDING Hornbach Holding said Q1 EBIT fell 13 percent to 77 million euros ($86 million) but it continued to aim for full-year consolidated EBIT at around the same level as in 2014/15. MAJOR MACROECONOMIC DATA/EVENTS (GMT) : 0600 DE Import Prices 0645 FR Consumer Confidence 0800 EZ Money-M3 Annual Growth 0800 IT Business Confidence 1400 US University of Michigan Sentiment 1430 US ECRI Weekly ------------------------------------------------------------------------------ MARKET SNAPSHOT AT 0518 GMT: LAST PCT CHG NET CHG S&P 500 2,102.31 -0.3 % -6.27 NIKKEI 20740.5 -0.15 % -30.9 MSCI ASIA EX-JP 483.55 -0.87 % -4.26 EUR/USD 1.1183 -0.19 % -0.0021 USD/JPY 123.27 -0.27 % -0.3300 10-YR US TSY YLD 2.398 -- 0.01 10-YR BUND YLD 0.863 -- 0.00 SPOT GOLD $1,173.83 0.09 % $1.00 US CRUDE $59.76 0.1 % 0.06 > Asia stocks fall, euro drifts as Greek crisis deepens > US STOCKS-Wall St ends lower, but health stocks rally > Nikkei held below peak, Greece keeps investors cautious > TREASURIES-Prices slip on lingering optimism for Greece deal > FOREX-Euro bides time as Greece talks drag on > PRECIOUS-Gold ticks up as Greece fails to clinch debt deal > METALS-Copper set for first weekly climb in 6 weeks > Oil prices steady, all eyes on Greece (Reporting by Alistair Smout; Editing by Sudip Kar-Gupta)
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